Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-3 - CAPITAL GAINS AND LOSSES: SPECIAL TOPICS  

Division 124 - Replacement-asset roll-overs  

Subdivision 124-R - Water entitlements  

Variation to CGT asset case

SECTION 124-1155  

124-1155   Roll-over for variation to CGT asset  


There is a roll-over if:


(a) a *CGT event happens to a *CGT asset that you own; and


(b) the CGT event happens as a direct result of the circumstances that gave rise to a roll-over under section 124-1105 ; and


(c) you continue to be the owner of the asset (the retained asset ) immediately after the CGT event has happened.


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